Ant Financial, the largest online financial platform in China and a unit of Alibaba, has raised $14 billion in Series C equity financing from global investors. The $14 billion is possibly the largest private funding raised, will value the company at around $150 billion in market value. (Market Cap on 8.6.2018: Goldman Sachs $87 billion, Citigroup $174 billion, JP Morgan $376 billion, Alibaba $537 billion)

Ant Financial (Ant Small and Micro Financial Services Group Co.), which owns Alipay, was spinned off from Alibaba Group before its 2014 IPO. Brands under Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank and Ant Financial Cloud. Alipay, together with its global partners, served approximately 870 million annual active users globally and over 15 million small businesses in China.